Bosman Wealth Management LLC Decreases Holdings in DoorDash, Inc. $DASH

Key Points

• Bosman Wealth Management cut its DoorDash stake by 67.8% in Q4, selling 7,085 shares and leaving 3,363 shares worth about $762,000.
• DoorDash reported Q results that missed EPS ($0.48 vs. $0.58) and slightly missed revenue ($3.96B vs. $3.98B) while revenue grew 37.7% year-over-year; analysts have a consensus "Moderate Buy" rating with an average price target of $261.32 and a FY EPS forecast of 2.22.
• Company insiders have been net sellers recently — about 94,406 shares (~$17.8M) sold over the last three months (including a 10,000-share sale by the COO) — while institutional investors own roughly 90.6% of the stock and insiders hold about 5.8%.

Bosman Wealth Management LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 67.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,363 shares of the company's stock after selling 7,085 shares during the period. Bosman Wealth Management LLC's holdings in DoorDash were worth $762,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DASH. American Century Companies Inc. increased its stake in DoorDash by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 485,088 shares of the company's stock worth $131,941,000 after purchasing an additional 22,944 shares during the period. Caprock Group LLC purchased a new position in DoorDash in the 3rd quarter worth approximately $3,169,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in DoorDash by 7.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company's stock worth $219,276,000 after purchasing an additional 53,722 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in DoorDash in the 4th quarter worth approximately $41,712,000. Finally, Jefferies Financial Group Inc. increased its stake in DoorDash by 136.6% in the 3rd quarter. Jefferies Financial Group Inc. now owns 42,355 shares of the company's stock worth $11,520,000 after purchasing an additional 24,454 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 2.5%

NASDAQ DASH opened at $183.89 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The firm has a market capitalization of $79.89 billion, a PE ratio of 86.74 and a beta of 1.93. The stock's 50 day moving average is $165.98 and its 200 day moving average is $205.68.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The company's revenue for the quarter was up 37.7% compared to the same quarter last year. Research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Key Headlines Impacting DoorDash

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: New monetization product: DoorDash rolled out new ad tools that could help restaurants win more customers and increase ad revenue — a potential long-term boost to margins and ARPU. DoorDash’s new ad tools could change how restaurants compete: Fox Business
• Positive Sentiment: Market reaction: Despite heavy media coverage of the White House delivery stunt, investors have largely shrugged it off so far, suggesting the episode is being treated as a short-term PR event rather than a material hit to fundamentals. DoorDash Defends White House Delivery: Yahoo
• Neutral Sentiment: High-profile media coverage: Multiple outlets reported former President Trump calling the stunt “tacky” and “a little embarrassing,” keeping the story in headlines but not adding new operational or financial information. Trump Calls His Own DoorDash Stunt ‘A Little Embarrassing’: Yahoo
• Neutral Sentiment: Unverified claims: Coverage includes unsubstantiated assertions that participants were “actors,” which prolongs chatter but so far lacks evidence that would meaningfully affect business metrics. White House DoorDash delivery prompts unsubstantiated 'actor' claims: Yahoo
• Negative Sentiment: Reputational/PR risk: Social-media backlash and heated exchanges by DoorDash PR staff have generated negative press and could raise short-term brand risk or partner concerns if amplified. DoorDash PR Head Crashes Out Online Over Backlash: HuffPost
• Negative Sentiment: Actor allegation scrutiny: Reporting that a participant may have been a paid actor keeps the story alive and could invite further media/legal scrutiny if substantiated. Unpacking claims 'DoorDash grandma' was paid actor: MSN

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $176.61, for a total value of $220,762.50. Following the sale, the director directly owned 31,002 shares of the company's stock, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Prabir Adarkar sold 10,000 shares of the business's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $158.97, for a total value of $1,589,700.00. Following the completion of the sale, the chief operating officer directly owned 843,678 shares in the company, valued at $134,119,491.66. This trade represents a 1.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 94,406 shares of company stock valued at $17,825,074. 5.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on DASH shares. Citizens Jmp reduced their target price on DoorDash from $285.00 to $250.00 and set a "market outperform" rating on the stock in a research note on Friday, February 20th. DA Davidson reduced their target price on DoorDash from $260.00 to $224.00 and set a "neutral" rating on the stock in a research note on Thursday, February 19th. Benchmark boosted their target price on DoorDash from $280.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Zacks Research cut DoorDash from a "hold" rating to a "strong sell" rating in a research note on Monday, April 13th. Finally, Truist Financial boosted their target price on DoorDash from $330.00 to $340.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $261.32.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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